JPMorgan Chase & Co. Grows Stake in Hovnanian Enterprises, Inc. (NYSE:HOV)

JPMorgan Chase & Co. grew its stake in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 98.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,472 shares of the construction company’s stock after acquiring an additional 14,624 shares during the quarter. JPMorgan Chase & Co. owned about 0.49% of Hovnanian Enterprises worth $6,023,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in Hovnanian Enterprises during the 3rd quarter valued at about $33,000. FMR LLC grew its holdings in shares of Hovnanian Enterprises by 20.6% during the third quarter. FMR LLC now owns 346 shares of the construction company’s stock valued at $71,000 after buying an additional 59 shares during the last quarter. CWM LLC increased its position in shares of Hovnanian Enterprises by 89.6% during the third quarter. CWM LLC now owns 749 shares of the construction company’s stock valued at $153,000 after acquiring an additional 354 shares in the last quarter. Creative Planning purchased a new position in Hovnanian Enterprises in the 3rd quarter worth approximately $202,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in Hovnanian Enterprises in the 3rd quarter valued at approximately $205,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Stock Performance

Shares of NYSE HOV opened at $140.76 on Thursday. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. The firm’s 50-day moving average price is $157.81 and its 200-day moving average price is $179.26. Hovnanian Enterprises, Inc. has a 52-week low of $115.90 and a 52-week high of $240.34. The company has a market cap of $852.30 million, a PE ratio of 4.38 and a beta of 2.70.

Analyst Ratings Changes

Separately, Wedbush reissued a “neutral” rating and issued a $155.00 target price on shares of Hovnanian Enterprises in a report on Monday, December 16th.

Hovnanian Enterprises Company Profile

Hovnanian Enterprises, Inc, through its subsidiaries, designs, constructs, markets, and sells residential homes in the United States. It offers single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes with amenities, such as clubhouses, swimming pools, tennis courts, tot lots, and open areas.